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The Economics of Ecosystems and Biodiversity (TEEB) study is a major international initiative to draw attention to the global economic benefits of biodiversity, to highlight the growing costs of biodiversity loss and ecosystem degradation, the benefits of investing in natural capital, and to draw together expertise from the fields of science, economics and policy to enable practical actions. Drawing on a team of more than one hundred authors and reviewers, this book demonstrates the value of ecosystems and biodiversity to the economy, society and individuals, highlights the urgency for strategic policy making and action at national and international levels, and presents examples of policies in action from around the world.
It highlights the need for new public policy to reflect the appreciation that public goods and social benefits are often overlooked by a 'maximise private benefit' approach. It explores the range of instruments to reward those offering ecosystem service benefits, to reduce the incentives of those running down our natural capital, and to offer subsidies that respond to future priorities. The authors also consider two major areas of investment in natural capital - protected areas and investment in restoration. Overall the book demonstrates how we can take into account the value of ecosystems and biodiversity in policy decisions - at national and international levels - to promote the protection of our environment.